Life Insurance Corporation of India (LIC) has invested ₹48,284.62 crore in Adani Group companies by way of equity and debt, Union finance minister Nirmala Sitharaman informed the Lok Sabha earlier this week.
As of September 30, LIC’s book value of equity holdings in listed Adani firms stood at ₹38,658.85 crore, besides a debt investment of ₹9,625.77 crore. It also invested ₹5,000 crore in secured non-convertible debentures of Adani Ports & SEZ in May 2025.
“Ministry of finance does not issue any advisory/direction to LIC in connection with matters related to investment of LIC funds. The investment decisions of LIC are taken by LIC alone following strict due diligence, risk assessment and fiduciary compliance and are governed by the provisions of Insurance Act, 1938 as well as regulations issued by Irdai, RBI and Sebi (wherever applicable) from time to time,” the written reply from the FM read.
The query from MPs Mohammad Jawed and Mahua Moitra comes amid a recent Washington Post report that had suggested government officials influenced LIC’s exposure to the Adani group, which was denied by LIC.